The end of UCITS as we know it?

Now some of you may call me a hypocrite when you read what I am about to propose. The industry has long been saying that there is regulatory overload in the fund management world.

We could make many arguments that what we are being hit with is disproportionate, particularly given the crisis did not emanate in this part of financial services, and that there is a real sense of regulatory fatigue setting in. And yet I have been one of the proponents over the last year of aiming to get fund management back on the front foot again through a new UCITS VI. I know that seems ridiculous but bear with me. I realise we have only just had UCITS IV and that even now some member states have still not implemented it yet. But UCITS IV started back in 2003, a full eight years ago....